Saturday, July 29, 2006

Willkommen!

Wal-Mart ...,the world's largest retailer said it was now selling its 85 German hypermarkets... a move that would cost $1bn (£540m) in pre-tax losses, it said.

Wal-Mart entered the German market eight years ago...but despite generating sales of $2.5bn a year, it never posted a profit.

Critics said Wal-Mart failed to understand the different culture in Germany. Its attempts to introduce "greeters" to every store, with orders to smile at every customer, is said to have been particularly unpopular.

Germans shoppers would have flocked to greeters who barked orders at them, delayed them with lengthy complaints about their health problems, and barged in front of them.